How much is renters insurance in Arkansas?

How much is renters insurance in Arkansas?

The average cost of renters insurance in Arkansas is $346 a year, and the average monthly cost is $29. That's for a policy with personal property coverage of $40,000, liability coverage of $100,000, and a deductible of $1,000.

What you pay for renters insurance may differ from your neighbours because it depends on factors specific to each person: the property you want to insure, extra coverage options you add, and the deductible amount you choose.

"The number one thing that's most important is to get good liability. A renter's policy will default to $100,000 liability," Josiah Hatch, an insurance pro with Bender Hatch Insurance in Boston, said. "It costs next to nothing to go from $100,000 to $500,000. I want to say it's probably 10 bucks a year. It's really cheap to get a lot of extra coverage. I always recommend getting the most liability you can because that's, at its core, what insurance is all about: the worst-case scenario."

Best renters insurance companies in Arkansas

Farm Bureau Mutual Ins Co of AR, Auto-Owners and Shelter Insurance are our best renters insurance companies in Arkansas.

Rates differ widely between renters insurance providers, so it pays to shop around. But rates aren’t the entire picture. It’s also important to choose an insurance company with a good reputation so you know it will be there for you when you need it.

To help you choose the best renters insurance in Arkansas, we reviewed rates and third-party ratings including complaint volume with the National Association of Insurance Commissioners (NAIC) and financial ratings from AM Best.

Among the carriers surveyed, Farm Bureau Mutual Ins Co of AR is the best renters insurance company in Arkansas, with a top score and an average renters insurance rate of $292.

Below is our list of best renters insurance companies in Arkansas based on that analysis, with our score out of five.

Cheapest renters insurance in Arkansas

State Farm is the cheapest renters insurance company in Arkansas based on our rate analysis with an average annual premium of $203.

Renters insurance prices can vary drastically between companies. That's why it is important to compare rates and see which company offers the best deal to get coverage at an affordable price.

Below are the cheapest renters insurance companies in Arkansas and their average annual premiums.

Arkansas renters insurance: The least and most expensive ZIP codes

Where you live in Arkansas affects how much you pay for renters insurance. The most expensive ZIP code in Arkansas for renters insurance is 72391, where the average annual rate is $404 which is $58 more than the state average insurance premium.

On the other end of the spectrum, the least expensive ZIP code for renters insurance is 72717, with an average annual rate of $290.

The following table lists the least and most expensive ZIP codes in Arkansas for renters insurance.

Compare renters insurance rates by city in Arkansas

Renters insurance rates vary significantly across cities, influenced by various factors, including weather patterns, crime rates, and property values. You must consider these factors and compare quotes from different insurers to get the best deal on renters insurance for your specific city in Arkansas.

How to get cheap renters insurance in Arkansas

There are a few things you can do to get cheaper renters insurance in Arkansas:

• Shop around. Not every Arkansas renters insurance company offers the same rates or discounts. Shop around for the best price.
• Ask about discounts. There are a lot of discounts available on renters insurance; one of the biggest is bundling your home and auto insurance, so ask for an auto quote at the same time.
• Chose a higher deductible. Your deductible affects your premiums; higher deductibles mean lower rates. Just ensure you can afford the deductible if you have to pay it.

Helpful home insurance tools and calculators

• Home insurance calculator
• Condo insurance calculator
• Renters insurance calculator
• When to file a home insurance claim